NEW YORK (TheStreet) -- Investors were not taken with Internet security company CyberArk Software's  (CYBR) - Get Report secondary offering Thursday, pushing shares down nearly 7%. TheStreet's Jim Cramer said during CNBC's "Stop Trading" segment that how this stock trades will be a key to today's market. 

Cramer, co-manager of the Action Alerts PLUS portfolio, said this secondary offering is important. The $1.7 billion market cap company operates in the red-hot cyber security industry, which is why Cramer believes its momentum is so crucial to other stocks. 

CyberArk Software CYBR data by YCharts

CyberArk priced four million shares at $51 per share. The stock, now at $52, briefly traded below that mark early in the session. While the stock is off its lows, it's got a ways to go in order to erase today's losses, which Cramer is expecting. 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.